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Uro Property Loses its Socimi Status Following its Purchase by Santander

Uro Property has lost its Socimi status after failing in 2021 to comply with the requirement that more than 80% of its income proceed from third parties.

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Uro Property Holdings has lost its status as a Socimi as a result of failing during 2021 to comply with the requirement that more than 80% of its income proceed from third parties, as reported by the real estate management company on Monday.

Specifically, this breach stems from the fact that the rental agreements that Uro Property has signed with Banco Santander correspond to more than 99% of the company’s income and, since the purchase of 84.7% of the real estate management company’s capital stock by the entity chaired by Ana Botín on 16 September 2020, Santander cannot be considered a third party.

Read the full article in Spanish.

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